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ESMA trade reporting standards "could decide" future of markets
March 9, 2015--The European Securities and Markets Association is consulting financial institutions on which messaging protocol and data formats would be best for trade reporting under MiFIR.
As the timeframe for reporting comes ever closer to real-time, the consequences could be serious.
Under MiFID II and EMIR, a host of trade reporting obligations are being phased in, obliging capital markets participants to report derivatives transactions to a trade repository and to use central clearing wherever sufficient liquidity is available.
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Source: ESMA
ESMA clarifies its interest rate swaps clearing standards
March 9, 2015--The European Securities and Markets Authority (ESMA) has today published a revised opinion on its draft Regulatory Technical Standard (RTS) on the clearing obligation for Interest Rate Swaps (IRS).
ESMA's draft IRS RTS had originally been sent for endorsement to the European Commission by 1 October 2014. On 29 January 2015, the Commission responded with a corrigendum notification, which informed ESMA of its intention to endorse the draft RTS with amendments.
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Source: ESMA
Row erupts as EU backtracks on index data transparency
March 8, 2015-- Scandals over the rigging of interbank interest rates such as Libor and Euribor and the alleged fixing of gold and silver prices have highlighted the dangers of a lack of transparency in the calculation of indices and benchmarks.
So it may come as a surprise that European politicians are being accused of harming investors by backtracking on plans to force unprecedented transparency on index providers..
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Source: FT.com
HM Statistics: Forecasts for the UK economy: February 2015
March 6, 2015--Forecasts for the UK economy is a monthly comparison of independent forecasts. This edition contains short term forecasts for 2014, 2015 and 2016, and medium term forecasts to 2019.
view the Forecasts for the UK economy: February 2015
Source: HM Treasury
New UBS ETF launched on Xetra
ETF provides access with currency hedging to MSCI Canada index
March 6, 2015--A new equity index fund from the UBS Global Asset Management product family has been tradable on Xetra in Deutsche Börse's XTF segment since Friday.
ETF name: UBS ETF-MSCI Canada UCITS ETF (hedged to EUR) A-acc
Asset class: equity index ETF
ISIN: LU1130155606
Ongoing charges: 0.43 percent
Distribution policy: accumulating
Benchmark: MSCI Canada 100% hedged to EUR TRN
The new UBS ETF enables investors to participate in the performance of the MSCI Canada index and also to benefit from hedging against exchange rate fluctuations between the euro and the Canadian dollar.
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Source: Xetra
European Parliament moves toward regulation of benchmarks
March 5, 2015--Cora van Nieuwenhuizen, the lawmaker leading an EU proposal to regulate financial benchmarks, said leaders are working toward a compromise.
National regulators would be authorized to toughen up certain benchmark rules, she said. "Everybody feels a sense of urgency that we really have to do something to avoid affairs like [the London Interbank Offered Rate]," van Nieuwenhuizen said. "We can reach an agreement in the coming weeks."
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Source: SmartBrief
UK official holdings of international reserves: February 2015
March 4, 2015--This monthly release shows details of movements in the UK's official holdings of international reserves, or assets. These consist of gold, foreign currency assets and International Monetary Fund assets.
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Source: HM Treasury
GFT Technologies AG to be included in TecDAX
March 4, 2015--On Wednesday Deutsche Börse decided on changes in its selection indices which will become effective on 23 March 2015.
The shares of GFT Technologies AG will be included in TecDAX and will replace the shares of Kontron AG.
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Source: Deutsche Börse
Vanguard's march to Europe tracks ECB's quantitative easing
March 4, 2015--Vanguard, one of the world's largest providers of passive investment products such as index-tracking funds, has been a big and powerful presence in the US mutual fund market for years.
Now the group plans to steal a march on Europe.
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Source: FT.com
Revised lists of the Moscow Exchange Indices announced
March 3, 2015--Moscow Exchange has revised lists for the constituent lists of the Moscow Exchange Indices as well as free floats effective from March 18, 2014 through June 16, 2014.
Cherkizovo Group and Pharmstandard ords will be added to the MICEX Index and RTS Index, while KAMAZ ords and Mechel prefs will be removed.
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Source: Moscow Exchange
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